Taking Stock | On third day of gains, Sensex surges 740 points, Nifty flirts with 17,500

Taking Stock | On third day of gains, Sensex surges 740 points, Nifty flirts with 17,500

The Indian equity benchmark rose for the third straight session on March 30, rallying to a six-week high on progress in Russia-Ukraine talks and gains in auto, IT, bank, capital goods and realty names.

At close, the Sensex was up 740.34 points, or 1.28 percent, at 58,683.99, and the Nifty was up 173 points, or 1 percent, at 17,498.30.

"High volatility prevailed in the global market but peace talks between Russia and Ukraine gave hopes of de-escalation of the war, helping the domestic market to trade with confidence," said Vinod Nair, Head of Research at Geojit Financial Services.

The easing of crude and other commodity prices also supported the market, he added.

Bajaj Finserv, HDFC Life, Tata Consumer Products, Bajaj Finance and Hero MotoCorp were among the top Nifty gainers. ONGC, Hindalco, JSW Steel, ITC and Tata Steel were the top losers.

On the sectoral front, Nifty Bank, auto and PSU bank added a percent each, while the metal index fell 2 percent.

Stocks and sectors

On the BSE, auto, IT, bank, capital goods and realty indices rose 1 percent each. The metal index shed nearly 3 percent, power index 0.4 percent and oil & gas 0.8 percent.

The broader indices underperformed the frontliners. The BSE